ICN Pharmaceuticals in Costa Mesa reported that...

ICN Pharmaceuticals in Costa Mesa reported that net income declined 16% to $4.6 million for its fiscal first quarter ended Feb. 29, compared to net income of $5.5 million for the year-earlier period. Revenue for the quarter increased 55% to $34.9 million, from $22.5 million. ICN, a drug maker and parent company to several other firms, attributed its increase in revenue to expanded sales and acquisitions made during 1987. ICN’s Viratek subsidiary reported a net loss of $3.8 million for its fiscal first quarter, compared to a net loss of $1.9 million for the year-earlier period. Viratek’s revenue declined 76% for the quarter to $44,000, from $183,000. Viratek said its revenue declined because of slow sales of its anti-viral drug ribavirin.